Selling a home in an increasing real estate market?

Selling a home in an increasing real estate market such as Santa Clarita which appears to be rebounding presents some careful decisions to be made by the home seller. While it is good news to potential sellers that partially because of low inventory home sale prices are on the rise, it does create a new set of problems for the home owners.

One of the decisions to be made is whether or not it is currently the right time to sell or if still waiting would be the best solution. The answer depends on the homeowner’s reason for selling. If the homeowner has been waiting to move up or downsize than the consequence of waiting could be that they may have to pay more for their “replacement home” and pay a higher property tax on it. Also, we still do not know which type of home or what neighborhood will increase at a faster pace than others. A homeowner who waits must be willing to ask him or herself if the waiting will actually cost them money in the long run because the replacement home may increase at a higher rate than the current home.

The trend of increased home prices is strong in Valencia, Stevenson Ranch, Saugus, Canyon Country, Newhall and Castaic. It is also a part of a nationwide trend of a rebounding real estate market, prices have risen approximately 7% this past year, which is considered the normal rate at which real estate is typically expected to increase in a normal market. If the homeowner is considering a home sale and purchase out of the area or an out of state home purchase it is to be determined how the prices are rising in the relocation area. A home sale sometimes is a consideration which is not financially based but is one determined by comfort of life and emotional well being. If a homeowner is unhappy living in their current home or location then what is the true cost for waiting and continuing that current situation of unhappiness. Now that the prices are increasing perhaps it is finally the time to sell and make the desired change for a better quality of life.

The increasing market also is to be considered if a homeowner is trying to decide whether it would be worthwhile to remodel or do a room addition. It is typically the case that a remodeled kitchen and bath can bring a higher price for a house but the costs must be carefully weighed against the expected increase in the sales price. The increased price possibility for a home that is sold may also make a move a better option than an expansion or large costly remodeling .

With so many factors to consider, It is more important now than ever to contact an experienced local real estate agent who can help to obtain the highest price and best terms available in this uncertain but increasing market. It is important to work with a Realtor who has a good understanding of the Los Angeles and local market conditions. The agent should be able to utilize the most cutting edge advertising technology and marketing strategies available to sell a home and has a proven marketing strategy or plan for selling a home. It is important that the agent truly “knows” Santa Clarita and can attract potential home buyers to give them not only real estate information but general knowledge about the area.

Contact me, Lauren Nemeschansky at (818) 305-0029 at REMAX of Santa Clarita for either a complimentary online market analysis of your home’s current value or a complimentary in person analysis of your home and some great personalized tips of inexpensive improvements to help make your home more marketable.